Vietnam’s economy to grow 6.7 pct. in 2021: Standard Chartered

A view of Khai Quang Industrial Park in Vinh Yen city of Vinh Phuc province (Photo: VNA)

Standard Chartered announced on June 1 its forecast that Vietnam’s GDP growth would be 6.7 percent this year and 7.3 percent in 2022.

Tim Leelahaphan, the bank’s economist for Vietnam and Thailand, held that Vietnam’s economy remains strong and the country is proving to be one of the world’s best performing economies amid the COVID-19 pandemic.

However, he added, like many other countries, Vietnam is feeling the impact of the domestic COVID-19 situation, which is inevitable.

Vietnam began its COVID-19 vaccination campaign on March 8, with about 1 million people, mostly frontline health workers, receiving jabs so far. Expanding the campaign is a key condition for reopening tourism and promoting sustainable economic recovery, he said.

Other Standard Chartered specialists pointed out that the country’s trade figures have remained positive since last year.

In particular, mobile phones and accessories have accounted for some 16 percent of total overseas shipments and electronic devices, computers, and spare parts about 15 percent.

Vietnam also posted a trade surplus of 1.3 billion USD in the first four months of 2021.

Rapid economic growth may boost inflation, the specialists noted, adding that rising world food prices are also affecting domestic inflation.

They forecast inflation in Vietnam at 3.8 percent this year./.